Catalyst Capital Reports Acquisition of Additional Common Shares of Callidus Capital Corporation

TORONTO, April 19, 2018 /CNW/ - This press release is being made by The Catalyst Capital Group Inc. ("Catalyst") to report historical acquisitions by funds managed by Catalyst in Callidus Capital Corporation ("Callidus") pursuant to the operation of Callidus' Dividend Reinvestment Plan (the "DRIP"). 

Under the DRIP additional shares are issued from treasury on a monthly basis to shareholders who elect to receive common shares instead of Callidus' monthly cash dividend.  The Catalyst funds have elected to participate in Callidus' DRIP since its inception.

As a result of normal course acquisitions of common shares from treasury pursuant to the DRIP from the period January 1, 2016 to the date hereof, Catalyst Fund Limited Partnership IV acquired an aggregate of 1,205,590 common shares of Callidus, representing approximately 2.2% of the issued and outstanding common shares.  Catalyst Fund Limited Partnership IV holds 9,972,328 common shares representing approximately 18.8% of the issued and outstanding common shares.

As a result of normal course acquisitions of common shares from treasury pursuant to the DRIP,  for the year ended December 31, 2016, Catalyst Fund Limited Partnership III acquired 1,494,110 common shares of Callidus pursuant to the DRIP, representing approximately, 2.8% of the common shares and for the year ended December 31, 2017, Catalyst Fund Limited Partnership III acquired an additional 1,976,112 common shares of Callidus pursuant to the DRIP, representing approximately 3.7% of the common shares.  Subsequent to December 31, 2017, Catalyst Fund Limited Partnership III has acquired an additional 781,796 common shares and currently holds 22;812,595 common shares, or approximately 43% of the issued and outstanding common shares.

Catalyst is the manager of Catalyst Fund Limited Partnership II, Catalyst Fund II Parallel Limited Partnership, Catalyst Fund Limited Partnership III and Catalyst Fund Limited Partnership IV, each of which hold common shares.  As a result of the acquisitions noted above and acquisitions by Catalyst Fund Limited Partnership II and Catalyst Fund II Parallel Limited Partnership pursuant to the DRIP, Catalyst acquired control or direction over an additional 2,479,052 common shares in 2016, representing approximately 4.7% of the issued and outstanding common shares, and an additional 3,278,796 common shares in 2017, representing an additional 6.2% of the common shares.  Subsequent o December 31, 2017, Catalyst acquired control or direction over an additional 1,297,170 common shares and currently exercises control or direction over 37,851,201 common shares or approximately 71.46% of the issued and outstanding common shares.

The Catalyst funds acquired the common shares for investment purposes. It is the Catalyst funds' current intention to continue to acquire common shares through the DRIP.

The address of Catalyst's head office is 181 Bay Street Suite 4700, Bay Wellington Tower, Brookfield Place, Toronto, Ontario, M5J 2T3.

SOURCE The Catalyst Capital Group Inc.